# Types of Bonds\n\n**Contract surety bonds**\n- **Bid bond** — guarantees the bidder will sign at the bid price if awarded.\n- **Performance bond** — guarantees completion per the contract.\n- **Payment bond** — guarantees subs, suppliers, and labor get paid (often paired with the performance bond; required on public work via the Miller Act).\n- **Maintenance / warranty bond** — covers defects for a period after completion.\n\n**Other bonds contractors meet**\n- **License / permit bond** — required to get the contractor license in many states.\n- **Subdivision / site-improvement bond** — guarantees a developer finishes public improvements.\n- **Supply bond** — guarantees a supplier delivers materials.
**Takeaway:** Know your bonds: bid, performance, payment, maintenance, license, subdivision, and supply.
